Adjusting the salary difference for female retirees from 2018
The Government has just issued Decree 153/2018/ND-CP regulating pension adjustment policies for female employees who start receiving pensions in the period 2018 - 2021, with a social insurance payment period of 20 years to 29 years and 6 months.
Female workers are the group that is more adversely affected than male workers retiring at the same time due to changes in pension calculation under the Social Insurance Law 2014. The adjustment level depends on the period of social insurance contribution and the time of retirement, the compensation level gradually decreases until 2021. The highest compensation level is 12.31%, the lowest is 0.27%.
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According to Vietnam Social Security, the number of disadvantaged female retirees is about 91,100 people. |
Specifically, if a female worker retires with 20 years of social insurance contributions, retiring in 2018 will receive a 7.27% pension compensation; retiring in 2019 will receive a 5.45% compensation; retiring in 2020 will receive a 3.64% compensation; retiring in 2021 will receive a 1.82% compensation;
If a female worker has 26 years and 7 months to 27 years of social insurance contributions, retiring in 2018 will receive a 6.96% pension compensation; retiring in 2019 will receive a 5.22% compensation; retiring in 2020 will receive a 3.48% compensation; retiring in 2021 will receive a 1.74% compensation... The Decree takes effect from December 24, 2018.
According to Vietnam Social Security, the number of disadvantaged female retirees is about 91,100 people. The Ministry of Labor, Invalids and Social Affairs calculated that the compensation amount taken from the Social Security Fund in 2018 was about 27.8 billion VND; in 2019 about 23.7 billion VND; in 2020 about 18.1 billion VND; in 2021 about 10.3 billion VND. In total, about 80 billion VND.